AXIL Brands Q1 revenue falls 11% on product transition
AXIL•AXIL Brands' fiscal first-quarter revenue fell 11% year over year to $6.10 million, while EPS rose to $0.05. The company attributed the revenue decline to a product transition and fewer big-box orders.
1. Revenue and earnings
AXIL Brands said fiscal first-quarter revenue fell 11% year over year to $6.10 million, citing its planned transition from XCOR to XCOR II and fewer big-box orders. Net income and EPS rose year over year; EPS was $0.05.
2. Margin and outlook
Gross margin rose, helped by a one-time customs duty refund. The company expects XCOR II launch orders to be reflected in revenue from the second quarter onward and plans a global relaunch of its Reviv3 brand with new strategic partners.
